Chef Rosemary Shrager speaks to ME & MY MONEY

Chef and TV presenter Rosemary Shrager once struggled to afford food and clothing before she found fame.

Shrager – who has famously appeared in Castle Cook, Ladette To Lady, The Real Marigold Hotel and I’m A Celebrity – told Donna Ferguson she had a privileged upbringing in Regent’s Park in London, but her inheritance and all her fortune fell during the recession lost the 1990s.

She went on to command six-figure sums for her television work. The 71-year-old will be performing at Theakston Old Peculier Crime Writing Festival, which runs from July 21-24. Her latest novel, The Last Supper, is out now.

Ingredients for success: Rosemary Shrager on the cooking show Culinary Genius

What did your parents teach you about money?

They tried to teach me the value of money by keeping me very short. My father was initially a managing director and then went into the banking industry.

My mother was a housewife, although when my siblings and I were little she employed a cleaner and a nanny, and then we went to boarding school. She cooked and baked a lot and grew her own vegetables.

We lived in a beautiful house designed by the famous Regency architect John Nash in Regent’s Park, London. It was an absolutely stunning place to live, the garden reaching down to the old canal.

We had three houses – another overlooking Regent’s Canal and a very old house in Cornwall that belonged to my mother.

Still, I had a Victorian upbringing and was kept very tight. For example, my siblings and I used to have to wear our school uniforms during the holidays because we didn’t have enough clothes.

I remember once being given a few pounds to buy my underpants – I couldn’t believe I had that money to spend. My mother was a treacherous woman. I would worry about bringing friends home because I didn’t know what mood she would be in.

Although it was privileged, I didn’t have a very happy life at home. Eventually my father moved out with the housekeeper and my parents got divorced.

Ever had trouble making ends meet?

Yes. I lost everything almost overnight in the 1990s. My husband and I had sold our house in London and he was investing all our money in houses in Cornwall. He topped them up when interest rates skyrocketed. He could not afford to complete the project.

The bank took everything from us. I had to sell all the land I inherited from my father to pay off everything. It got to the point where I couldn’t afford food, clothes and everything else.

My husband never recovered from what happened to us and we broke up. Even now, 30 years later, I find it difficult to talk about it.

What scares me is that interest rates are going wild again and I’m sure there will be another recession.

How did you turn your fate?

I moved back to London and tried to make money. I’ve always worked as a chef because I loved the industry.

But now I had to work to get a roof over my head instead of working because I loved it. I lived in three different friends’ guest rooms for a period of about four years.

I worked my way silly and cooked in different restaurants all over the place. Cooking was my life.

Have you ever been paid stupid money?

Yes. I was doing a TV show and the production company wanted to keep me exclusive. So in the late 1990s I was paid £10,000 for agreeing not to do another TV show with another production company. It was ridiculous.

What was the best year of your financial life?

It was 2001 thanks to my TV series and my book, both titled Castle Cook.

I’ve also done some fun game shows. Television paid a lot of money back then. You would get £30,000 for just one week. I was also head chef at Amhuinnsuidhe Castle in Scotland.

I’ve made more money since then, but this was the first time I’ve made six figures, so I consider it my best year.

What’s the most expensive thing you’ve ever bought for fun?

Two handmade fiberglass plant pots for £2,000. They are on wheels so I can move the trees planted in them around my yard. It was an incredibly extravagant purchase, but I love being able to move giant trees.

Queen of the Jungle: Rosemary as a contestant on I’m A Celebrity in 2012

What’s your biggest money mistake?

I didn’t use the £10,000 check I received for bail on a house. Instead, I wasted the money on the family.

I have no regrets selling my land or house during the recession. I did this for my husband because I loved him. Now I’ve got everything I need back through hard work. I always tell people never look back. You can’t change what happened in the past, but you can change the future.

Best money decision you’ve made?

I bought my house three years ago. It is an apartment in a converted old chapel in East Sussex. I renovated it to be exactly how I want it, with an office, two bedrooms and a studio kitchen where I do cooking demonstrations.

I’d rather not say how much it’s worth, but I spent £100,000 on it and I think it’s gone up in value by at least that much. I intend to stay here for the rest of my life. At my age you need security.

Are you saving for a pension?

I started saving into one when I was 50. Now I get it along with my state pension and half of my late husband’s state pension.

He didn’t leave me a dime when he died, and I didn’t expect it because he didn’t have anything. So I can’t tell you how excited I was to discover I was entitled to half of his pension.

Do you invest directly on the stock market?

no I always felt like I never had enough money for it. I bought Stellars, a cryptocurrency. They’ve really gone down in value. You are a pain in the neck.

What’s the one little luxury you allow yourself?

One hour massage once a month. It costs me 100€.

If you were chancellor, what would be the first thing you would do?

I would fund kitchens in all secondary schools so cooking could be taught and so I could make home economics classes compulsory from the age of 11.

I think it would help with the obesity crisis. I’ve met so many kids who think chicken comes out of a piece of plastic.

What is your top financial priority?

So that I have enough money for my future and can leave everything I have to my children.